Company news

Johnson & Johnson has announced plans to acquire Omrix Biorpharmaceuticals for $438 million. Omrix is expected to operate as a stand-alone entity reporting through J&J-subsidiary Ethicon. Ethicon currently holds exclusive distribution rights for Omrix's Evithrom and Evicel, two biologic-based hemostats.

Roche boosted its presence in the Alzheimer's sector with a merger agreement with Memory Pharmaceuticals. Under terms of the agreement, Roche will acquire Memory in a deal worth $50 million. Montvale, NJ-based Memory develops drugs for the treatment of central nervous system disorders such as Alzheimer's disease and schizophrenia. Memory and Roche already have an R&D partnership including a Phase II trial for Alzheimer's and schizophrenia and a Phase I trial for Alzheimer's. Basel, Switzerland-based Roche, which already has a major stake in the Alzheimer's pipeline, expects Memory's work to be fully integrated into Roche's R&D portfolio including the future development of its promising nicotinic alpha-7 agonists.